I think that business regulation has its ups and downs. It does help to weed out
the businesses that take advantage of consumers and those that “have damaged
the environment, abused labor, violated immigration laws, and defrauded
consumers.” (Davis 1) Regulations can also help to keep people accountable
and fair.
The Environmental Protection Agency creates regulations to benefit society
and keep our environment healthy. Obviously, this is important; regulations
such as the Endangered Species Act and Toxic Substance Control Act are
necessary for the survival of some species and the health of humans. On the
other hand, I do not think that the tech industry needs any more regulation, I
think that our rights will be infringed upon if things such as our free speech on
the internet is regulated.
The Sarbanes-Oxley Act, Environmental Protection Agency, Federal Trade
Commission, Securities and Exchange Commission, and Food and Drug
Administration all were formed to protect consumers from fraudulent or
dangerous behavior by businesses. The issue is when some try to cheat the
system and control these regulators so that they seem exempt from these rules
themselves. One could argue that business is over-regulated but with the
overabundance of businesses being created every day, some regulation is
definitely necessary to some extent to keep businesses on the same playing
field.
Davis, M. (2022, March 17). Government regulations: Do they help
businesses? Investopedia. Retrieved April 19, 2022, from
https://www.investopedia.com/articles/economics/11/government-
regulations.asp
Environmental Protection Agency. (n.d.). Laws and Executive orders. EPA.
Retrieved April 19, 2022, from https://www.epa.gov/laws-regulations/laws-
and-executive-orders
